CESC net up 137 percent in Q4 backed by tariff hike

Backed by 13 per cent tariff hike, power utility CESC Ltd., an RP-Sanjiv Goenka Group company Tuesday reported a 137.5 percent jump in its net profit at Rs.2.66 billion for the quarter ended March 31, 2012 as against Rs.1.12 billion during the same period the previous year.

The Kolkata-based company got the nod from the West Bengal Electricity Regulatory Commission in March to hike its average tariff by 13 percent retrospectively for 2011-12.

The regulatory body directed the power the Calcutta Electric Supply Corporation (CESC) to recover the retrospective tariff hike in 48 monthly instalments.